Assetmark Inc. Has $37.97 Million Stake in Unum Group (NYSE:UNM)

Assetmark Inc. reduced its stake in Unum Group (NYSE:UNM - Free Report) by 46.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 638,808 shares of the financial services provider's stock after selling 556,004 shares during the period. Assetmark Inc. owned approximately 0.34% of Unum Group worth $37,971,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of UNM. Versant Capital Management Inc boosted its stake in Unum Group by 361.5% in the second quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 394 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Unum Group during the 2nd quarter worth approximately $26,000. 1620 Investment Advisors Inc. purchased a new position in Unum Group in the second quarter worth $29,000. Capital Performance Advisors LLP purchased a new position in shares of Unum Group in the 3rd quarter valued at about $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Unum Group during the 3rd quarter valued at approximately $37,000. 86.57% of the stock is owned by institutional investors and hedge funds.

Unum Group Trading Up 0.1 %

Shares of Unum Group stock traded up $0.06 during trading on Friday, hitting $69.42. The stock had a trading volume of 1,062,661 shares, compared to its average volume of 1,340,938. Unum Group has a 1 year low of $41.86 and a 1 year high of $70.40. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $12.68 billion, a PE ratio of 7.51, a P/E/G ratio of 1.02 and a beta of 0.76. The stock has a 50 day simple moving average of $60.26 and a 200 day simple moving average of $55.23.

Unum Group (NYSE:UNM - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.10 by $0.03. Unum Group had a net margin of 13.76% and a return on equity of 15.21%. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period in the prior year, the firm earned $1.94 earnings per share. The firm's revenue was up 4.0% compared to the same quarter last year. On average, research analysts expect that Unum Group will post 8.52 EPS for the current fiscal year.

Unum Group declared that its Board of Directors has approved a stock buyback program on Tuesday, July 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 10% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Unum Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 25th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Friday, October 25th. Unum Group's payout ratio is 18.18%.

Insiders Place Their Bets

In other news, EVP Christopher W. Pyne sold 3,250 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $70.02, for a total transaction of $227,565.00. Following the completion of the transaction, the executive vice president now owns 50,762 shares of the company's stock, valued at approximately $3,554,355.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Timothy Gerald Arnold sold 10,000 shares of the company's stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total transaction of $541,100.00. Following the transaction, the executive vice president now owns 64,821 shares in the company, valued at $3,507,464.31. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christopher W. Pyne sold 3,250 shares of the company's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $70.02, for a total value of $227,565.00. Following the transaction, the executive vice president now directly owns 50,762 shares in the company, valued at approximately $3,554,355.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 87,545 shares of company stock valued at $4,921,174 in the last quarter. Insiders own 0.93% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on UNM. Citigroup boosted their price objective on shares of Unum Group from $62.00 to $69.00 and gave the stock a "buy" rating in a research report on Tuesday, July 23rd. Bank of America raised their price objective on shares of Unum Group from $54.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, October 10th. Piper Sandler reaffirmed an "overweight" rating and issued a $66.00 target price (up previously from $64.00) on shares of Unum Group in a research note on Friday, September 27th. Wells Fargo & Company boosted their price target on Unum Group from $69.00 to $71.00 and gave the stock an "overweight" rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. decreased their price objective on Unum Group from $65.00 to $63.00 and set an "overweight" rating on the stock in a research note on Thursday, October 3rd. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $66.09.

Unum Group Company Profile

Unum Group, together with its subsidiaries, provides financial protection benefit solutions primarily in the United States, the United Kingdom, Poland, and internationally. It operates through Unum US, Unum International, Colonial Life, and Closed Block segment. The company offers group long-term and short-term disability, group life, and accidental death and dismemberment products; supplemental and voluntary products, such as individual disability, voluntary benefits, and dental and vision products; and accident, sickness, disability, life, and cancer and critical illness products.